I just had a client buy a home with truly zero down

[Erik Browning]

So this clever client I have was dead-set on buying a home with zero cash out of pocket. Her and her husband had about $12k to their name and a new baby. They are young and wanted to move into a modest home that they could fix up and eventually rent out in a few years while starting their family.

This is how they did it:

- We got them pre-qualified with an FHA loan for a purchase in Mendocino County.

- Since they wanted to buy with no money down, we used one of our lenders that has a forgivable down payment assistance grant - one that you do not have to repay. No strings attached, you just have to be a first time home buyer and the rate is slightly higher.

- After that, we worked with her agent to target properties that need some work and where the seller would be willing to pay for all closing costs as part of the offer.

- The seller accepted and my clients used some of their cash as the earnest money deposit, which was returned to them at the close of escrow.

Really proud of them for doing this and being so open to this creative idea.